China Soybean Import up to 6.03 Million in Nov. 2013

By CnAgri2013-12-12 09:29:51 Print

China’s soybean imports were 6.03 million MT in Nov., increasing 43.9% compared with last month and increasing 44.99% compared with the same period last year. Soybean imports totaled 56 million MT in Jan. ~ Nov., an increase of 6.67% on the year-on-year basis.
　　　
China soybean import cost in Nov. declined compared with last month. China soybean import average price was USD580/MT in Nov., USD34/MT less than price in October, USD594/MT in the first 11 months in 2013 and USD598/MT in 2012.

Soybean crushing is lucratively profitable. Soymeal stocks in crushing mill declined and unexecuted contracts kept increasing. Operating rate of oil plants was obviously improved. It is predicted China soybean import shall reach 6.5 million MT in December.